This Unstoppable Cryptocurrency Is Now As Big As Amazon, and It Could Soar By Another 10,500%, According to Strategy's Michael Saylor

What's particularly noteworthy is Amazon (AMZN 0

Furthermore, Furthermore, Bitcoin is now worth more than Alphabet, Meta Platforms, and even Tesla

Bitcoin might still have room to run (which is quite significant), considering recent developments

Furthermore, How realistic is that target

On the other hand, Image source: Getty Images

Saylor says Bitcoin will transform the global financial system So far, Bitcoin hasn't ven to be very useful as a currency because of its high volatility relative to traditional currencies the U

It's fully decentralized, so it isn't controlled by any person, company, or government

It's built on a secure, and publicly verifiable system of record called the blockchain

Saylor, who founded the software-turned-Bitcoin treasury company formerly known as MicroStrategy, believes that "tokenizing" every physical asset in the world onto the blockchain would create transparency and also solve some of the inefficiencies in the current financial system

Furthermore, For instance, buying real estate comes with high legal fees because most perties have an opaque history that requires tedious re to uncover, amid market uncertainty

But if we placed every real estate transaction on the blockchain, records would suddenly become transparent and verifiable by any spective buyer, in this volatile climate

Saylor says he thinks Bitcoin would be the perfect reserve asset for the tokenization cess because of its decentralized nature

This means Bitcoin would be the currency everybody uses to buy, sell, or transfer tokenized assets (this bears monitoring)

This leads to the conclusion that refore, anyone who wants to participate in this new financial system will have to use the cryptocurrency at some point, creating an organic source of demand that could drive its price higher, given current economic conditions

However, Bringing Saylor's vision to life won't be easy because it will require global cooperation

But President Donald Trump has a very -crypto agenda, so the world might if the U

Moreover, Government were to lead the way by creating a legal framework with rules and standards (fascinating analysis)

However, That means the cryptocurrency would be worth a whopping nine times more than the output of the entire U, given current economic conditions

Conversely, As a result, I think Saylor's target is unrealistic

Meanwhile, Even if his vision became reality and all of the world's assets were tokenized onto the blockchain, Bitcoin would only soar in value if every person held on to their coins after selling an asset (noteworthy indeed), in light of current trends

As I alluded to earlier, Bitcoin isn't a great everyday currency, in today's financial world

Only 6,600 merchants worldwide accept it as payment for goods and services (according to crypto directory Cryptwerk), so people would have to convert their coins back to fiat currency to carry on with their s

Therefore, the pool of people who are purchasing Bitcoin to acquire an asset would be met with an almost equal number of sellers, leading to a potentially neutral -- not increasing -- value

Additionally, Could Bitcoin eventually become a widely adopted currency

In my opinion, Bitcoin will never be a true global currency (which is quite significant)

Every economy operates at a different speed, which is why some countries have stronger fiat currencies than others

Australia and Vietnam have much weaker currencies than economic powerhouses the U. , which helps them compete on the global stage by making their exports more attractive to larger trading partners

If every country adopted Bitcoin, the smallest economies would be thrust onto a level playing field with the s of the U (noteworthy indeed). , which would damage their exports and dent their citizens' quality of life

This's one reason several countries might be inclined to reject Saylor's plan for tokenization on a global scale, given current economic conditions

But that doesn't mean Bitcoin is a bad investment right now

Nevertheless, There's no guarantee that this scenario will play out, but I think it has a better shot at becoming reality than Saylor's forecast

Furthermore, John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors (noteworthy indeed), in this volatile climate

Nevertheless, Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors

Anthony Di Pizio has no position in any of the stocks mentioned, given the current landscape

The Motley Fool has positions in and recommends Alphabet, Amazon, Bitcoin, Meta Platforms, Nvidia, and Tesla

The Motley Fool has a disclosure policy.